Russian court dismisses appeals in 2004 price fixing case

Richard Higgs
EUROPEAN PLASTICS NEWS

Published: April 1, 2014 9:15 am ET
Updated: April 1, 2014 9:18 am ET

Related to this story

Topics Materials, Public Policy, Europe, Electrical/conduit, Electronics, Materials Suppliers

A Moscow federal court has dismissed appeals by six Russian companies, including Sibur group, in a long running case alleging they were involved with others in 2004 in a price fixing cartel in Russia’s soft cable compounds market. 

The appellant firms include Sayankhimplast OJSC, Sibur-Neftekhim OJSC, Sibur Holding OJSC, Sibur Ltd., Bashkiria Soda Company OJSC and Bekborn Ltd.  

In a 5 March ruling, the Federal Arbitration Court upheld the judgments of two other courts in July and November 2013 which found the companies had breached the criminal law by forming the cartel. The cartel had resulted in price fixing and the division of the wholesale market by sale volumes and groups of buyers. 

Originally, in June 2011, Russia’s competition authority FAS (Federal Antimonopoly Service) initiated a case alleging six chemical firms and “a group of persons comprising Moscow-based Sibur Ltd, Sibur Holding and Sibur-Neftekhim OJSC” had broken Russia’s federal antimonopoly law.

The other chemical firms were Pervaya Chimicheskaya Kompania CJSC; Bekborn Ltd; Caustic OJSC; Vladimir Chemical Works OJSC; Plasticab OJSC and Sayanchimplast OJSC.

However, six months later, FAS terminated that case because of expiry of the period of limitation of the 2004 antimonopoly violation and forwarded the case materials to the Russian Federation Interior Ministry to initiate a criminal case against the firms.

 “FAS believes that actions of economic entities have signs of a crime under Part 3 Article 178 of the Criminal Code of the Russian Federation,” Andrey Tenischev, head of FAS Anti-Cartel section stated last November.  

“The period of limitation for holding (the firms) criminally liable for committing a violation of this category has not expired.”


Comments

Russian court dismisses appeals in 2004 price fixing case

Richard Higgs
EUROPEAN PLASTICS NEWS

Published: April 1, 2014 9:15 am ET
Updated: April 1, 2014 9:18 am ET

Post Your Comments


Back to story


More stories

Image

2014 leaves some resin firms in the black while others struggle

January 23, 2015 2:37 pm ET

On the financial side, 2014 was good for Hexcel Corp., so-so for Celanese Corp. and it could have been better for Omnova Solutions.    More

Image

Clariant's ColorForward predicts future consumer trends

January 23, 2015 1:33 pm ET

Clariant International Ltd. is marking a decade of color forecasting with the 10th edition of its ColorForward program.    More

Image

The future for PolyOne is colorful

January 23, 2015 1:28 pm ET

PolyOne Corp. is writing four color stories for 2016.    More

Plastics executive pleads guilty in federal firearm case

January 23, 2015 12:37 pm ET

Richard Cummings, 43, a former manager at Tri Town Precision Plastics Inc. in Deep River, Conn., has pleaded guilty to violating federal firearms...    More

Image

Mexico's Polymer Solutions looks to grow, expand offerings with name change

January 23, 2015 12:03 pm ET

British biodegradable additives developer Symphony Environmental Technologies plc's Mexico distributor has changed its name from Plásticos Degradables...    More

Market Reports

Plastics in Automotive: Innovation & Emerging Trends

This special report newly released by PN and sponsored by The Conair Group examines current trends in the use of plastics in automotive, materials innovations and the changing landscape. It includes a review of legislative/regulatory activity impacting vehicle development and lightweighting, market opportunities & challenges for mold and toolmakers, innovative design strategies being implemented by major OEMs and suppliers, as well as a review of key indicators in Canada, Mexico, Brazil and China.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Injection Molding Market Analysis & Processor Rankings

Plastics News BUNDLED package contains our in-depth Market Analysis of the Injection Molding segment. You will gain keen insight on current trends and our economic outlook.

As a BONUS this includes PN's updated 2014 database of North American Injection Molders RANKED by sales volume. Sort, merge, mail & prospect by end market, materials processed, region, # of plants and more.

Learn more

Upcoming Plastics News Events

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events